tv Mornings With Maria Bartiromo FOX Business January 17, 2018 6:00am-9:00am EST
the u.s. or other parts of the world a whole lot more expensive than it has been historically by most measures of christ earnings. could be an interesting place now. train to reba gold, thank you very much. thank you for watching "fbn:am." we'll turn it over to "mornings with maria" appeared maria bartiromo. >> happy wednesday, everyone. wednesday, january 17th at 6:00 a.m. on the east coast. record territory again. dow industrials touching 26,000 yesterday and did love the milestone marking the second highest close in history. but volatility be on the way back. president trump praised the recent record for stock. >> we've enacted massive tax cuts. you seen what's happening. i have to tell you far beyond our expectations we've made a tremendous amount of progress in a very short period of time when
you look at what has gone on with employment at what's gone on with the stock market. we have created now almost $8 trillion just in the stock market. maria: games to show you. our industrial better then 100 points. also in positive territory. a weakness on the selloff yesterday. down 15 in paris. 27 points lower. in asia overnight as you see the shanghai and hang seng up on the cost be lower. call it the crypto crash. plunging as much as 25% just above 10,000. my one investor says he's not going anywhere near this craze. shocking footage out of baltimore. police engaged in a shootout while stopping a robbery at a 711.
the latest as they hunt for the suspect coming out. winter weather slamming the united states. hundreds of flights canceled in the south is the threat moves north. what you need to know this morning coming out. one thing for sure. not as bad as it is in russia. the shocking temperatures causing eyelashes to freeze. plus, is it the end of general electric as we know it? the major challenges that could lead to the breakup of this american staple? joining me to talk all about it, carrie sheffield is here. kevin kelly and beyond for global ambassador fox news contributor, john mayfield. great to see you. >> great to see appeared interesting stuff with ge. 100-year-old company getting a chance to reset. maria: if you're a long-term ge shareholder, this is a sad day. >> just reselling other.
>> good morning to you. the problem there is ge when they actually did the restructuring and they found these more problems. but delaying dollars during 20 billion of that is pretty significant. if they can find this, there's a lot more under the surface. so was the market. look at the reaction yesterday. >> i hope you're wrong. maria: as well as politics. did everybody catch the press conference yesterday about the president's health? >> yes, yes. >> 30 out of 30. >> stable genius. maria: i was just astounded at the stupidity of the questions. i mean come the dentures? >> the last president was a smoker and a drinker. this one isn't bad at all. he's got to lose 15 pounds and
do more exercise. >> i was embarrassed by the questions. i really was. berkshire is with us this morning. former cte restaurant and the el in america's first policy advisor in the poster is with us. strategies partner corey lewandowski joins with us and judge andrew napolitano. dr. calvert chassis is with chassis is with us here come a.k.a. dr. mike. do stay with us. we take it off with this top story. record territory again topping 26,000. president trump weighed in on the record highs from washington. >> the stock market is way up again today setting the record literally all the time. i'm telling you we have a long way to go and had the other side gotten in, the market would have gone down 50% from where it was. 50% from where it was. remember that.
it was stagnant and it was going down. maria: that's a big number. 50%, kevin kelly. i do think we are seeing this kind of success because of the president's policy. >> at totally because of the policy. the only reason the economy can do well is this monetary policy and fiscal policies are working to the benefit of the people and that is what is happening. every federal reserve governor begging for fiscal policies. the economy was hampered by oppressive rules and regulations including obamacare, see if tv, you name it and all of a sudden a new administration comes in any knoxville policies and federal reserve governors are over the moon. great, we can raise three times next year, maybe even more. maria: is this potential government shut down one of the threats to the market rally just
days to avert a government shutdown set for friday? house sitters propose a funding bill that would fund this for four more weeks while allowing more time for stalled negotiations over what to do on the deferred action for childhood arrivals, the daca program? is this the kind of event should receive event should we see a government shutdown best advantage? >> it will take down the republican party. seven government shut downs since 1976 all have been ideological differences. in no case has there been one party controlled on both sides of congress and the government shutdown. this is suicide for the republican party. maria: i have to push back on that. yesterday was watching the show. i had a cold. i still have a little bit and i heard dagen say look back at all of the government shutdowns we say. the world goes on. not only that, that people increasingly upset with the obstructionism out there. i think they will blame the
democrats. >> i think they will because of that demographic heidi heitkamp, joe manchin. the least nine democratic senators that trump one including five when he won by double digits. the obstructionism by the parts of democrats because they don't want to shut down the government this is the insistence to say we need a clean daca though which makes no sense because that's what we've been trying to do. this is by the republican establishment lost because they were not willing to be comprehensive and focus on the border first and that's what people are fed up and you see a disconnect, almost second sequestration and let congress be the juvenile children and we will be the adults in the market. >> i don't think the market does go down a mahogany impact in one of the reasons why it's only a government does the government shutdown not shutdown. the market is not worried about it. you're also going to see democrats see through to the 30th, which is the state of
the union. they will not want to shut down the government until they see what the president lays out because they have elections in 2018. maria: at the end of the day, the other side, they want the government to shut down. they would like that. >> certain governments don't want to do that here they want to show they are working with this administration to benefit constituents. do you have a name? who was don't work another republican? maria: here's how it plays out. they are viewing that democrats will come along when they need to and work with republicans, state tax reform. whatever they need to do, especially the known incentive for democrats to work with republicans because they were shooting themselves in the foot repeatedly time after time last year. look at health look at health care. it blew up in their faces. no one is pushing back on
democrats, especially constituents. maria: if they don't want to come to the table and do the proper funding for the border wall and make sure that the military is funded properly, i would say the republicans will say fine, the government shuts down. i think people blamed the dems. >> i feel like either party is very good. this is never happen in the history of our country when one party controls everything. you're feeling like the least worst in this case, which is less than people believed in alien abductions. president trump used tough language on immigration during a white house meeting last week though she denied.
a particular vulgarity that turned testy before the senate judiciary committee yesterday. watch this. >> at president trump used this word or a substantially similar word to describe certain countries? >> did he use anything similar to that describing in the conversation was very impassioned. i don't dispute the president was using tough language. others in the room were also using tough language. >> when dick durbin called me at tears rage when i heard about the meeting. for you not to feel that hurt and not paying and dismissed the questions of my colleagues may never be answered with tens of millions of americans are hurting right now because of what they're worried about what happened in the white house that's unacceptable to me.
>> is corey booker not think that everyone knows that was just a performance because he wants to run for president? the way he spoke with the secretary of homeland security to me was unacceptable. as a professional women, were you as outraged as i was? >> with all that man explaining? was incredibly condescending. this is a platform where he wants to lead the resistance against tron. you win in 2018 because they tried this in 2016 of the racially divisive. however you want to slice and dice it the identity politics. in terms of immigration, they want to focus on language and set of policy. what you're doing matters a lot more that the president said in terms of immigration based on substantive merit, that's what
we should focus on. immigrants are on some form of public welfare. basically what's happening is middle-class americans are taking their paychecks and subsidizing immigrants taking more than assistance. that's reality and however however you want to slice it, politics is about the allocation of resources, hard choices and corey booker is just being emotional. maria:'s putting on a show because he wants to run for president. >> you can assign motives to mr. booker. >> it doesn't compare to deeds. in the psalms of cape town, the huge shantytown. last month in the slums of mumbai and go into haiti in a couple months to visit the same sports programs there. people are not doing anything to help these places. i don't agree with the term being asked if that was used
here just alleged right now. down in new orleans. just as bad as haiti after hurricane katrina. and we are not doing anything about the inner cities arguing over what we call him. a total distraction. maria: anybody on the panel think that is a license to rip into somebody. i'm talking about the way corey booker spoke to the homeland security secretary. i thought it was disgusting. >> was a public hearing. you see the difference between how they act in their private hearings for nothing gets out and nothing gets done in public hearings where they use it as a platform for themselves. that's all it was weather was dick durbin doubling down for corey booker putting on the sideshow. maria: incredible. we will keep talking about. on the hunt for two suspects this morning after brazen shoot
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maria: two suspects on the run after an exchange of gunfire at all to more police casone with details. maria: good morning. a 711 in downtown baltimore. the pair were trying to rob a store employee showed up in a gunbattle ensued. the two suspects shooting that police were able to get away when officers took cover to protect themselves. shots ring out with the robber and officers just feet apart from each other. baltimore police say it's an absolute last thing that an officer was not shot in this exchange. another winter storm warning headed parts of the northeast on the way south to the gulf coast. snow, sleet, freezing rain. parts of texas are dealing with frozen rain. forecasters warning about dangerous tropical conditions throughout the entire swath of the storm. hundreds of flights already canceled across the united states.
to thermometer plunging in russia down to minus 62 degrees. so cold there it is freezing people's eyelashes and luckily for us they are taking pictures of their frozen eyelashes. beautiful bs more than than 60 degrees negative bear. general electric considering breaking itself apart for problems with the ge capital unit prompted a reevaluation of the strategy. the company would book a six-point $2 billion charge in the fourth quarter related to its insurance operations. they need to set aside 15 billion over seven years to bolster insurance result. ge shares about 40% from a year ago. maria: exciting story. the most valuable company of any company. stock recently because because you see value in it really not touching it right now. spinach is to get back on that point, one of the reasons they won't touch it if they expect to
command multiple valuation of their peers in other companies operating efficiently with better management. why would they deserve that? they are some of the parts is less than their share price right now. they have ongoing concerns when it comes to management. they not somebody new in europe. where there's smoke there's fire and they were supposed to get rid of it a couple weeks ago when it didn't work out and here we are. maria: bob nardelli, regular on the program said at some point this company will consider breaking up. a couple weeks ago. we'll bring you the soundbite later on. incredibly diverse are the used to say now you're not seeing that even more. jpmorgan taken the company from thomas edison. flannery has a chance to throw everything out. you can get all the bad news front loaded in the next couple
weeks. >> in november there might be a breakup, too. spin that they live to boston and before that they were in connecticut battling an enormous tax burden, regulatory burden. if they had been in a different state, what might be different? maria: they've moved to massachusetts. just cannot took over the week of september 11, 2001 and that was a hardship for sure, but that the decisions he made obviously were bad decisions. >> $31 billion in unfunded pension liabilities in cash overseas that changes their balance sheet with repatriation. maria: will take a break when we come back. bank of america, goldman sachs before the bell this morning. how markets react after seaside yesterday. meanwhile, giant fireball
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maria: welcome back. features indicating another rally. this market will not quit. the investor is up 133 points right now. nasdaq up about 26. features indicating a big rally. extending the record run after the dow briefly crossed 26,000 yesterday for the first time ever. the service 1000-point november from 25-26000. big banks reporting earnings continuing the last couple days. bank of america and goldman
sachs. we want to bring and fox news contributor jonathan hoenig. good to see you. op-ed in the journal today. stocks are headed for a fall. that is from marty feldstein could with your take on this? >> are still in a bull market. new highs yesterday similar to big stocks hit new highs. this is the basic reality of the markets that trends tend to persist. i first fell in love with you many years ago during the 90s bull market in your member up to five, six years it went up 200% in 1999. i do think there are indicators that the pendulum has long friends here all the way to greed, mostly the average investor is the highest level stock exposure since 2000. it's a good time to argue for lower than normal exposure. maria: does the real moment in
time of the 90s. thank you for that by the way. then, pushing stocks because they have a.com at the end of the period today we are seeing buying the stocks because the fundamentals. the real story. earnings growth 20% in 2018. to make the was in bed who is how many eyeballs. now it's about revenue earnings in the sea that come through. it's fascinating if you think about previously the past few years in an earnings recession that's the biggest issue we had and now companies are doing exceptionally well operating margins are at their highest levels. we see the tailwind of the monetary policy finally pulled through enough fiscal policy taken hold in the global growth story binding to all large multinational corporations. >> this time is different. now it's block chain. you talked about docs.
although block chain companies. >> not in the s&p 500. if you look at exposure. the long block chains are not indicative of the nature of today's markets. the stock market if you look at the dow jones industrial average. the 30 largest companies, none of them are block chain companies. maria: at ibm you've been talking about. >> debauching hyper ledger not driving the revenues. just using it in deploying it. using technology to foster. maria: block chain of that coin, could it be bitcoin? plunged more than 75% at one point yesterday. it is now sitting as you can see a 10,000. legendary investor t. boone pickens and he said that 89
years old come anything with the word crept into is a real turnoff for me. >> as far as whether it will be a drag on the market, the fact that we have a spike in stocks meanwhile simultaneously the drop in the crypto currency you think on right now seems isolated and will not have a larger impact on fundamentals. i don't think it is fundamentals. >> sometimes when you lose money in one area so whatever you can sell. sometimes that triggers the selloff because you try to make up your gains in another area and so what you can file. >> the great recession started with a problem in subprime and now was the nature of the beast. you can make the argument that it's the canary in the coal mine. the liquidity indicator. they would've never existed in 2008 and 2009. ultimately have another lake. very bearish on bitcoin right
now. >> but it is an integrated two-way subprime mortgages were. on these other layers on top of it. does the systemic risk. >> one thing integrated as inflation. up 31%. china imported deflation a long time. now looks like they are exporting inflation. >> i will spare you my opinions and give you my position. the platinum from the matching copper, but now is a good time to have platinum, uranium, those are good things right now because you want things of the s&p 500. alternative assets doing well. maria: thanks so much for stopping by. really good to see you. the u.s. accusing similar to the
welcome back, good wednesday morning everyone. it is wednesday january 17. your top stories right now 6:30 a.m. on the east coast. the rising north korea threat. rex tillerson warning a military option could be on the table. with respect to whether americans should be concerned about a war with north korea i think we all need to be very sober and clear eyed that that threat is going --dash mike growing. if north korea is not choose the pathway of engagement discussion, negotiation and they themselves will trigger an option. earnings season focus on wall street. they are reporting the have of the open this morning.
we will bring you the numbers as soon as we can. we are at the highs of the morning with the dow industrial hundred 25 points. we're looking at strength this morning for the s&p 500. they rallied all the way up to 26,000 cracking yet another new milestone but then towards the end of the day a race to the games. as you see the markets are looking lower. is now 14 points. the heels of the week close for wall street in yesterday. stocks are mixed in asia yesterday. they iso could deal in as many weeks. the biotech company is in talks to acquire juno therapeutic.
it was up 50% in that premarket this morning. the power comes back after three months of no power. the heartwarming video coming up. so powerful it triggered a small earthquake. we will bring it to you coming up. u.s. cyber security firm has identified a north korean hacking outfit this is a same group responsible for the sony hack at the end of last year. nate, good to see you think you so much for waiting in this morning. how vulnerable is the crypto currency to the hack. we live in a world that is digitally connected. increasingly now currencies and cars and other things that we hadn't previously thought
of as digital. there is exposure there obviously. new talking about a potential war between a strong country and a weak country. the cyber capabilities it can be weapons of the week. cheap and easy to develop. i see all of these the things coming out of north korea. such as develop nuclear weapons. and the only thing coming to my head is that they are in able by china. how they can place blame. what is your take on that. that north korea has been enabled by china. the only way they get internet is through china. the defense is really hard. but attacking is pretty easy. that have been launched by a
kid and his parents basement. they are falling. and it's unlikely that north korea will get outside help. i handful of people relatively will equipped well-equipped can do this themselves. this appears to be their only option. they don't have the gasoline to invade south korea. this is a matter of a self survival. there is a great book about that vietnam war. these are the sorts of things that they do. you go to the low end of the strict specter or you go to the high end to try to deter the united states. there was elections in south korea last year.
the new leader they have there. he is not pro- western as some of the predecessors. even talks that he wants to open the case on industrial contacts. it would allow the north koreans to have access to mark capital which means that they could do more damage. they are probably going to be more pragmatic. then even that united states can be across the pacific ocean. this is a matter of geography and proximity. >> intel revealed a flaw in security allowed hackers to compromise a laptop and literally seconds.
all 3 billion users and equity facts even a recent op-ed in the new york times who should be held accountable for the complex cyber attacks. is it a federal or corporate issue. at the end of the day who is responsible should be responsible. with the companies themselves we are not seen the kind of accountability that you would expect to see and they recognized all of the personal data and so much of their potential livelihood is at stake. we really see a vacuum of government policy here. imagine if american ships were sailing and american airlines was at risk of being shot down. we would be dealing with this in a different way.
or if necessary military to deter it. that is bigger government. that is a bigger government to handle it. i've fought in afghanistan and iraq after that. we a military response we need the same thing in the cyber domain. with intel how do we prevent the sinks going into the future. we are we're talking on a business show. intel you name it. as an investor myself how to these companies protect themselves. the spectrum meltdown is a whole new breed here. we're talking about the cpu.
it appears that there is some intermediate things that we can do to limit the exposure. and ultimately replacing all of those chips over time. that is a unique thing. they are software problems. it's simple table stakes like a plane at your patches, training your people. >> are we losing this war. google has 50 of the top ai. it seems like we are losing this war. do you think that's right. three numbers, $75 billion spent a year on cyber security
and once the bad guys are in it takes an average of three months to find it. we are losing the war. how do you even do that internally. they are supposed to be the people protecting us. how can you even protect against that. vetting employees in internal security as is a whole separate issue. when you boil it down and cyber security though we need to build better software. if the role cyber security into the overall risk management framework and we need the government to make sure the term works in the cyber domain. thank you so much. coming up major biotech reportedly in the works. take a look at juno this morning. the partnership could impact the future of lifesaving
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position for growth in the next decade but our core business today and also cause an earthquake though which is interesting. a loud booming sound. the national weather service in detroit said that the quake resulted in the meteors grand entrance. while you are talking we got the bank number that you are waiting for.
that is slightly lower than the $21.5 billion the endless were expecting to see here. one of the issues you are having here is that trading has been weakened. you actually saw jp morgan show a positive side last week. bank of america is actually up more than it appears to. it has been the best performer. it seems like investors are still taking this to heart with it up in the premarket. the fact that the company is to get a charge in the fourth quarter. citigroup was a first the first without the. $2.9billion charge.
the links -- and the banks have a decent run. now you are starting to see. the stocks have been up seven to 10% since the tax bracket if that is true it's about another 10% up to these. they were expecting 11% earnings growth for 2018. and on top of the tax plan that's another 12%. is can a hit the banks very favorably. it will impact them very favorably. you've already seen a huge move in the banks obviously. but were entering the time of the has to be great for the banks. rising interest rates that will help merchants.
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we had breaking news this morning. bank of america earnings hitting the tape moments ago. revenue is $21.4 billion just shy of the estimate the company is also taken a $2.9 billion charge in the quarter as a result of the tax act. in the commercial break that we are about to enter a time that is pitiful for the banks because not only do you have better economic growth but you also higher interest rates. and you have the rollback and regulations that has not hit the banks yet. i think one of the best things it's can happen as you're is you see the net interest margins. and then they actually can
deploy revenues that they are generating from that and two other areas that generate. we head over 202000 pages of rules and regulations from a basket of agencies holding them down. talking about that. we don't even have to worry about the designation. as you start gaining more assets that you are seen i don't know why they would even consider that. the regional bank they should be deployed their capital that is a kind of rulemaking that is really crippling companies. they did nothing to discuss that.
i did put a lot of restrictions on banks and earnings. the earnings are not that great. no one cared about the fourth quarter. they wanted to know what the tax plan was to be for 18. the tax policy and people still don't know how the tax policy will affect earnings. i think you make a really good point in terms of the smaller banks. they will see the big upside. this is where we have seen a lot of the damage happening where the smaller banks are being gobbled up there drying up because they could not comply with the regulation. it is a big breathing relief for them. a lot of these community banks were african-american owned banks. and they shut down because of dodd frank. they actually care about outcomes.
through policies that make sense. they should not had to comply with anyway. we haven't seen what j.p. morgan will do with the extra savings from the tax plan. they're looking at a lot of different things. it sounded like he will do more on the cost taking costs down. cutting prices for consumers but he's definitely looking at a lot of things. dozens of deaths. how did things get so bad. next our right here. we've helped our investors stay confident for over 80 years. call us or your advisor. t. rowe price. invest with confidence. stay at la quinta.
go to wednesday morning everyone. thank you so much for joining us. it is wednesday january 17. your top stories right now. 70 am on aeschylus. they have just three days to reach an agreement to keep it the government funded. republicans did little to close the gap last say. verizon support for the current leadership plan as proposed. i think no one wants to shut down. no one wants to shut down the government. as stocks hit near record
territories. they cracked 26,000. ended the date lower. the markets closed as you see fractionally lower. the futures this morning back in the green. we are expecting a bigger open. after a hundred 45 points right now. as earnings drive the day. it is the season of reported numbers. forty-seven cents per share. revenue was a slight mess. but the company said it took nearly three billion dollars charge to write off the assets due to the tax reform bill. we are waiting for the numbers. ft 100 on a quarter of a%. the cat crunch it's just fractionally lower.
and they are up a quarter of a%. flu season epidemic. the bast number of cases one hospital in california even forced to set up a shift treatment center in the parking lot to deal with the massive overcrowding caused by the flu. the white house dr. said the president trump is in good health. but that wasn't enough for the mainstream media. the outrage coming up from the press looking for any weaknesses and the dr. said the president is in excellent shape. the surprising headwinds. the steel is anything but butterfingers. all of the stories coming up this morning.
i'm so glad that we got to report on bank of america because we will see what happens with their revenues. and their net earnings are to be down 5%. we've have problems in an area and fixed income currencies in commodities. let's see what happens here. it's a diverging result coming from the banks especially titans like goldman sachs as the banks go. coming up this morning. corey lewandowski will join us. judge andrew napolitano is
here. and the ceo of cadre. a big unicorn there. republicans are on a deadlock on the government spending to fix. it comes after house leaders propose a new short-term strategy. conservative republicans are pushing for a deal that includes more funding for the pentagon. the gop leadership does not have the votes to pass a government funding bill. they are putting illegal aliens about the interest of national security. there is not support for the current leadership plan that is proposed. there are two or three options that are out there. well had to head discussions with their leadership. a bipartisan group of lawmakers are set to unveil a
new deal today. mark good to see you. on the ascending bill and how they are tied together. that's what we have this week. a vote on another continuing resolution. they would get us into february to allow more time for that conversation. i think there will be a principles meeting today. to continue conversations to move forward. even though we just heard. that were not in favor of a leadership plan here. keep in mind that we submit a budget to congress in february for 2018 we submit our budget
in february congress should have a bill completed by september 30 at the end of the fiscal year. here we are now still not having a funding bill for 2018 which is why we are continuing to force to do this continued resolution because no one wants a shut down. that hurts federal workers in her defense department. we are going to shut down the government's. unless there is a deal for illegal aliens in place. we don't want to shut down the government. they are supposed to have a funding bill completed by september 30. you're basically being held hostage.
every two weeks. it's not the way to run the government. secretary mattis has continued to go and talk to the republican leaders. we cannot make the necessary planning that i need and we are putting our troops funding in jeopardy. how have he get that communicated to the american people. we recognize the threats that are out there. in terms of national security. we also recognize that the democrats would like the government to shut down because they believe that republicans will be blamed. the reality is that democrats we need 60 votes in the united states and -- united states senate. they are holding american people and the government hostage in order to get the demand.
something that was lost a report that came out that said three out of four terrorist convicted here in the united states. something else was in that report that was missing. that's seven per day. here we are having all of this drama and discussion about what he said and she said. we are trying to fix chain migration. to make sure that the country is safe and secure. seven everyday are apprehended and turned away. that's pretty incredible number actually. we are also facing a group where they would prefer the government to shut down. because they don't want the legislative agenda to get executed. the question to whether or not they really want to shut down or they think they can bluff
to try to get people to cave in to their demands on daca. we will find out this week. they will end up holding together and given more time. this is no way to run a government. they submitted a budget in february of 2017. let's talk about the broader agenda. this is an anniversary week for the president. what are the priorities for 18. i think we are going to take time to review 2017 because of what it was his work in so many ways. it will feature an infrastructure plan that is closer to the state of the union. and look at to require work requirements.
those will continue to be priorities for the administration. we want to make sure our troops are funded. they had been essayed that they want infrastructure reports say that the president will actually present an infrastructure plan during the state of the union do you had plans to tout the infrastructure plan for the state of the union. it is a matter of timing we will continue to head conversations with congress. you should look for the president to unveil that. and all of the decisions to win as many seats as they can and the 2018 elections. that's why the obstruction is probably going to only pick up.
there will be a lot more obstructions and probably the expectations for what we can do legislatively well diminish as the year goes on. to your point democrats well had to make a case they will have to explain why the unemployment is at the lowest point ever. a 17 year low and yet they are stopping the economic plans. what is the biggest pushback in the left. giving the president the money that he is asking for. on the border security keep in mind in 2006 most democrats
voted for the secure defense act. over $40 billion they've been willing to vote for it before. the only difference now is that donald trump is president. there is a recognition of the security needs of the political reasons. how much of the conversation around the reality is that getting in the way in terms of doing a deal or is that just noise coming from the left. i think the conversations yesterday were chordal -- cordial. they go back on the plan in october. we refined that plan a couple weeks ago. they try to get closer to negotiations. her anxious for congress to come back and say this is the
way to end the visa lottery program. in the trade migration which is a program to which the president and they began to secure the border. are you getting at least an acknowledgment that the visa program is ridiculous,? i think there is a growing question that it is ridiculous. let's take the visas and reallocate them. thank you so much for walking us through us all. we will be watching at the developments. mark sure at the white house. the bizarre questions that embarrassed the entire media
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welcome back to mornings with maria. i'm cheryl casone with your headlines. related to the deadly crash of two different ships last year. the uss fitzgerald. if it is gerald. that is seven sailors. when the john f mccain crashed into the oil tanker. it happened in southeast asia. mcdonald's is pledging to have fully recyclable packaging recycling bins are going to be put in all of its restaurants about half of the packaging comes from renewable recycling. taking a look at the stocks. up nearly 40% over the last year. for about $2.8 billion. in cash.
the brands being sold butterfinger it will make them at the third largest candy maker in the united states. it will help it focus more on healthier products. we have the good stuff. i have nothing better happened to my butterfingers. there is a healthy echo system off of all those. the response to a clean bill of health. >> he's very sharp i found no reason to think that the present has any issues whatsoever with his thought process. the media embarrass itself
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across the country. at least 20 children have died as a result. hospitals in california have begun turning their parking lots into makeshift treatment centers. during this right now as is a family medicine dr. better known as dr. mike. i'm just back. it's not the flu but i was afraid because the flu is serious and dangerous. it's dangerous all seasons actually. we actually forget that the last flu season wasn't so bad. but it doesn't kill. even those who get it and don't die from it they are out of work for a week. it's not a virus that's like the common cold of the goes away after a few days. tamiflu is a great insight viral. that's why i always recommend a senior dr. right away with the symptoms to start. there has been some promise with taking it after the 48
hours. it doesn't kill people thinking over the age of 65. under the age of five. the main question is should people be getting flu shots. did actually work the season. we are guessing at what strains and cultures that will actually be. the flu shot is definitely worth it. there has been a lot of excitement. the way we decide if it's can be good to be effective is we look at australia. there flu shot was only about 10% effective for the current strain that we have. it means actually nothing to that regular person but to scientists we get excited about it. and what we found is the current flu shot is about 30% effective. it will tone down your symptoms and shorten the course. and we will see if you yearly
get flu shots will be even more effective. i felt like that affected my immune system. there is a couple of things that come from that. the humidity is lower so germs hang around longer. everyone is seen inside. we are closer together. most talk about the president's health. the commander in chief is in good health but that was not enough for the mainstream media. watch this charade. are you looking at dementia like that seems like it's just
shy of obesity. recently the president appeared to slur his words. i could not believe this yesterday. i tweeted out in the middle of it no words. i was embarrassed for my industry. they were upset that the president that there wasn't anything bad to report. the dr. said a lifetime of no alcohol or tobacco really has served him incredibly well. they are obsessed. they think the president's neck is second to make it through the first term. they have all of the scenarios that they think he won't make it. and that he will be impeached
because of his health. that's why they're doing this. i see a lot of people critiquing someone talk before they know exactly what's going on. in order to know anything about the mental health if to sit down with them. to see some journalists and doctors come on and say i know this person has asked illness. you are proving that you don't follow the medical process. it's hard to measure mental health. you have to spend time they have to be your patient or you're just making stuff up. have you ever seen anything like that. president obama i was a huge smoker there was no comments about it.
have you ever seen anything like that yesterday. it was extraordinary. present shop might be one of the most sane presidents we've head. ever since he won they have this agenda where they want to obstruct in every way possible. congratulations on excellent health. coming up the tree to dispute. the department of justice go straight to the supreme court to block present shop the very latest in the legal battle. is it time for tech titans trash -- trust buster. tree and eight
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leaders in those cities could face progression. >> department of justice ising rooefg what avenues might be available the context not only putting my ice showers at risk but finding an efficient, effective way to enforce that immigration law. >> closer look at fight on capitol hill as democrats including cory booker put on a show to try to slam the presiden the outrage coming up earnings season focus on wall street goldman shsac reports after bank of america reported mixed results numbers as soon as they hit the tape goldman up ahead of numbers markets this morning rallying to look at futures indicating a big move the start of trading this morning up 140 points on dow industrials, that is 1/2 of 1% naz deb up 23 a third of a percent higher as subpoena service 500 wild session yesterday on wall street dow hitting 26,000, seven days after a 25,000, then by close it he reliesed gains as section wore on went neg overseas action this morning in europe, looks weak
ft 100 down a quarter of a percent cac quarante dax weaker i pint out this is well off the lows of the morning, so we are seeing a comeback in europe right now in asia overnight, stocks closed mixed as you see there, a new law could prevent your ability to travel overseas. how you can lose your passport, over late taxes. and cracking down on big tax a look at possible antitrust push amazon apple google we have been expecting on this program. >> bmw mercedes-benz to test a service senator orrin hatch puts on a inspect cole how glasses went viral, all coming up first top story this half an hour legal dispute over daca, department of justice, asking for the supreme court, to immediately review a federal judge ruling that blocked president trump from ending a program last week a district judge ordered on the grounds to monument protecting immigrants who entered illegally as children in
statement, attorney general jeff sessions said it will defies law and common sense for daca, to be mandates nationwide by a single district court in san francisco, joining us right now is fox news senior judicial analyst judge andrew napolitano we keep asking the same question. >> why is the ninth tourist influential. >> to ninth circuit ninth circuit because a opponents file their complaints in california, since they know overwhelming majority of federal judges there are likely to resist the president a couple questions was a federal judge in california authorized to restrain the president nationwide? answer yes, now that is a rarely exercised power, about usually you restrain the president or restrain the defendant just in the area where you sit. but when the defendant or his agents are present nationwide, and you believe the defendant is engaging in unconstitutional behavior what this judge found i don't agree with him but did he have
authority to enjoin the president he did then the president said, we have to make these laws based on love and i am going to let daca stay in place, then the president's lawyers advised him, if you don't appeal this, your send heing the wrong signal to the court that maybe you really are ambivalent about exercising powers so they filed the appeal yesterday, they bipassed the ninth circuit court of peoples went directly to supreme court era 99% of the time you do that supreme court says go to circuit court first every single without fail, immigration case that started in california federal district court gone to ninth circuit the supreme court has reversed the ninth circuit, so the justice department is saying we would want to go to you directly we need an answer right away i can't preekt when supreme court is going to do. >> when is supreme court going to hear this. >> entirely up to them, about
kevin if it had gone to ninth circuit they have a short window in which to rule because to supremes they can sit as long as they want meantime, the federal district judge order stays in place if you are in the category 800,000 pretty much americanized people or born in another country came as babies you can play for daca protection that daca protections is for a year if you apply and get it then another year before the president can invalidate. >> we got to different issues we have ask sanctuary cities -- with the judge oversight hearing onboard security took a turn i want your containing grilling kinielsen boucher yelling at her after she said she did not recall president trump's vulgar language reportedly used during the meeting. >> your silence is complicity
i don't know if 73% of your time spent concerned about people in fear in communities in this country hurt when durbin called me i had tears of rage with i heard about this experience in that meeting for you are not to feel that hate -- hurt, that pain to dismiss some questions of my colleagues, saying i have already answered that line of questions with tens of millions of americans, or hurting right now, because of what they are worried about what happened in white house. that is unacceptable to me. >> goldman sachs numbers out we are going to get in a minute better-than-expected, judge who did he think he was talking to? >> talking to steak of people -- secretary of homeland security. >> talking to political base in new jersey resonated. >> it was over the top was loud disrespectful this happens when cabinet members clash with member of congress
in the opposite party i am not surprised to see it that is the way he operates, he assures himself of reelection with base in new jersey. >> in era when you have men behaving balanced all this hair. harassment going on speaking to a professional woman yelling like she did something. >> she burst bubble with on two or two words, when might have followed his ranting and raving something like i am trying to answer your questions i didn't come here for that pretty bold, of a person to say to a senator, under the law she does have to answer to that committee doesn't have to tolerate that behavior. >> didn't -- what goes was he harassing her. >> absolutely aggressive. >> verbally booabusive you had marc short on talking about how so many terrorists threats people coming in immigration programs where is level of passion and just defend of the
american citizen coming from boucher. >> kate stanly's death. >> he was a in the in have room when president said what he said or didn't say whatever some people said he said but she was i wasn't there i don't know what he said -- >> doesn't justify in a hostility toward her. >> i agree with you, but i feel differently about this because i know him so well such such a likable person doing this for political reasons, not for any male female -- >> what is nielsen supposed to say i will be a punching bag for an hour. >> unfortunately that is part of the job i couldn't take it. >> i don't think should be part of the job i don't think that is part of the job i am outraged by it. >> talking about emotion rage, like the whole point of being a senator is that you look at facts onlyly, you make hard policy choices you don't cry you are not a cry baby, again if this was happening where -- a republican male was yelling
at a democratic liberal female the double standard would be. >> the double standard no senator is pr they all is style play to the base at home. >> -- >> the public, not private -- >> because the cameras are rolling. >> look, he gets this 125 seconds of additional fame gets us talking about it had then this states. >> isn't it a distraction from real issue for real question he wanted to ask hardly asked a question. >> should women everywhere should be upset by that. >> i don't know whether the president used a phrase now says he didn't use some senators say he did some senators say he didn't, that is what he was trying to get her -- >> i am with you maria. >> how could you forget what happened two days ago. >> he is in no roll to yell at her if she doesn't recall he is not bigger than she is to be little her like that. >> happens all the time, look at -- look at the way aric holder was treated by
republicans, in this very same committee justice eases -- as aggressively. >> works depending on goal to sthait base at home worked if it is to get her to change her mind it doesn't work. >> happens all the time have you heard of #times up? >> yes. >> am i coming back? >> i love you thank you so much, judge napolitano, goldman sachs, earnings big number on profit and revenue kevin your thoughts. >> they did exceptionally well in investment banking revenue side beat on that, but one of the biggest disappointments they had once again is in the fixed income currency commodities a huge disappointment, only jairdz one plan in revenue versus iment 1.28 on equity sales and trading same thing only one -- 1.37 billion versus 1.51 losing dominance in dwigs that
made them famous a corporate entity feared on wall street. >> why stock is down. >> i think that is why because they still have not addressed it cfo repeatedly said we are going to fixing problems as well as ekts has not been, but done so well investment banking. >> avago if division is under pressure trading has been light -- >> -- fourth-quarter earnings don't want. >> no volatility. >> what happens going forward, tax package going to increase earnings 20% looks like lack of regulation, regulate breaking down dodd-frank going to help banks, matters what is going forward fourth quarter has not been good quarter for banks last your not necessarily good for banks next year looks to be. >> i am with you an interested party as former goldman alum myself. >> stock down numbers good trading is the weak spot we will take practically the tax man cometh for your passport? how your tax dote could potentially put your passport at risk of being revoked. >> who arein ratch supporting
maria: welcome back, irs cracking down on delinquently taxpayers cheryl casone with details. cheryl: yeah, that is right maria, taxpayers who owe government a lot of money, they want to contact irs about setting up a plan. under a new law that takes effect this month the state department could dan revoke a passport, for anybody that that has unpaid taxes more than 51,000 dollars, officials probably only take that if taxpayer is subject to a lien
the threat there is. >> bmw mercedes-benz testing a program one monthly payment covers par payment maintenance insurance expected to announce pilot programs in u.s. this year, remember a lot of other luxury brands audi claque porsche launched programs kind of a new way to own a car or not. >> senator hatch, causing a social media firestorm reached to take off glasses weren't there. >> you talk absolutely -- unfazed during the senate judiciary hearing with homeland second kirstjen nielsen staffers tweeted this after the thing went viral oh you mean invisible glasses they are new you will probably never heard of them, about hope everybody gets joke 3 second video racked up 5 million views all over youtube
facebook, funny, my glasses -- not wearing. >> sort of like where are glasses, on your head. >> taken off take glasses. >> get the doctor in a press conference going. >> since 2003 i am from utah, to cover as college student and i love him but i think, most of utah i agrees it was time to go he is long evident serving republican senator, to go, but what i am worried about is this and i love romney but i just think the civil war between the trump versus you know "never trump" people, got to end i am worded about with romney as much as i love mitt romney. >> a "never trump"er no doubt about it romney. >> what can go wrong maybe dick gets into a fight republicans won everything spending time fighting with each other selfs sabotage.
>> welcome back seldomnating giant technology companies, likes apple, facebook google amazon, raising the question should they be broken up, lauren simonetti with details, of course, the question broken up or needing more governings or what -- >> break them up do you regulate them many what do you do a fascinating question the "the wall street journal" did an excellent and very deep dive on this, basically, they compared the technical giants of today, to those of last
century so first the size implements of companies check out 95% of young adults today, use facebook, 89% google to search the web, 75% use amazon to buy e-books compare that to back way 9 and 10 of us made phone calls using at&t and got our fuel from standard oil. so many people want to know how these companies through the ages have gotten so big, and as far as that you antitrust argument does size help or hurt you and me as consumer take a look back in the day john d. rockefeller standard oil he bought other smaller refineries or drove them out of business to become so large. and in the process, managed to keep oil prices kerosene mostly low. standard oil ruled in illegal monopoly in 1911 we have seen facebook is buying competition, instagram --
seicrves mosy free for you and me, and their evolving themsees to make the product better so hard torove at least from that monopoly point of view that services are harmful to the consumer you can look at addictive nature of the products another argument altogether amazon bought zappos, whole foods, not even a competitor, still manage to go keep prices low. alphabet probably under heaviest scrutiny paying billions and billions of dollars in fines, to european and u.s. regulators for way they populate search results can hurt the rival the competition. >> companies continental going to pull up a chart made investors wealthy about it 2018 going to offer a new test especially if you look at creative tie-ups, vertical merges don't buy direct competitor see that in march as at&t continues to try to -- you know, merge with time warner.
is it possible in what is the government going to say how do you regulate companies that have inveighed lives. >> big issue on facebook basically a media company they were you could pay them, in rupels to push a story about whatever candidate you wanted, and guzzles what fox isn't held to same fox has standards that you have to decide where you are getting your information from, how and the publishes need to be vetdz facebook didn't do that certainly undermined demo democracy doing this didn't vet took it everywhere germ anz took action against faith-basing because of that a. maria: a data companies have about us, they -- everything, google -- they obviously know 'that we are searching for. >> you look sweaters let me show you should happens to be one of our sites, so much data that is why they are so powerful. >> also the issue bias, so i work with organization called
lincoln network in silicon valley libertarian conservatives in silicon valley talking to conservatives libertrarians the level in the valley they can't speak up conservative publications skrf immediate outlets censored a congressman tried to pup you the pro-life ad on twitter was shot down same thing that you are seeing in google facebook, this is a big question relates to first amendment freedom of speech, and also just the ability to express yourself ideologically. >> doesn't seem fair comparison to compare rockefeller, google three cables across ocean 10 million times as fast as modem worries you about taking over internet rockefeller no option you had to buy oil from him carnegie had to buy steel from him to this day kid in the garage senator in silicon valley could take up on google theoretically. >> you sell it or we wipe you out you can't fight us
happened to snapchat and instagram. >> my space the same thing come along look at that merger people same thing technology is so richly. >> a bizarre to entry lower than standard oil you have to have massive physical assets can do so much in basement with almost nothing. >> head back to -- >> it is worth watching i know the stocks are also getting impacted if we see bigger government we will take a break thank you lauren simonetti "apocalypse now" one artist imagines what it would look like if they face the same fate as some retailers "mornings with maria" right here stay with us. .
maria: welcome back thanks so much for joining us i am maria bartiromo wednesday, january 17 top stories right now 8:00 a.m. on the east coast, shut down showdown lawmakers have three days to reach an agreement, to keep the government funded, one major hurdle the battle over immigration reform. >> we certainly don't want government to shut down, but we still like to see a budget deal that is a two-year budget deal clean budget deal democrats will not hold our deposit whos taming will not stop allowing our country and our nation to be about protected. >> we do our work there is no need for a government shutdown the republicans are in control of the house and senate white house their decision whether this moves forward. >> looming threat as stocks
sit here in record territory dow jones industrial average cracked another all-time high of 26,000, ended the day below milestone as you see markets pulled back by close but still a second highest close in history, 25792 on dow, to look at futures this morning expecting a rally at start of trading dow industrials up in triple digits 120 points one half of 1% nasdaq up a thirds of a percent 22 points higher, earnings season driving the story on wall street goldman sachs, earned 5.68 dollars a share above expectations, revenue also better than expected, at goldman sachs, the earnings per share 5.68 a share better than 4.91 estimated, this comes after bank of america reporting mixed earnings this morning, more on those numbers coming up, the banks are mixed, this morning. in europe, today, the major detections are lower to look ft 100 cac quarante dax fractionally weaker this morning asia overnight, stocks closed mixed, as you will see here with winners in hong kong
and china, nikkei average in japan down a third of a percent breaking news out of south korea right now icy relationship between country and north may be thawing reuters reporting they reached agreement to march together under unified korea flag in south next month more on breaking story coming up, about is it the end of general electric as we know it problems about that could lead to breakup of the american staple 125-year-old company could be broken up, youtube changes the way it reviews are prospered content what it means for logan paul what if tech went the way of brick and mortar one oofrt envisions likes of facebook and tinder if they fell victim the retail apocalypse, to break down kerry sheffield here benchmark managing partner he kevin kelly. >> i just on goldman sachs we
saw down premarket, one issue why is because, goldman used to command a premium to its peers bank of america up in premarket, because they were the best place to go trade. fixed income equities that is not anymore, if you are not going to go to them for that, you are going to go to bank of america get great service on mortgage what have you doing trading there. >> banks have -- a perfect scenario elizabeth warren in the in position mrs. clinton not elected you have tax part time going to help banks rising rates regulation off dodd-frank banks are in a good spot next 12 months. maria: definitely are. >> pick and choose banks as we can see with goldman sachs compared to bank of america. >> favorite bank. maria: j.p. morgan across all cylinders upcoming so well loan growth side picking up where wells fargo is a detriment with scandal j.p. morgan picking up that wells fargo slack. >> let's talk about that joining the conversation this morning, i former cke restaurant ceo former labor
secretary nominee and puzder here. >> ryan williams with us host of "varney & company" substitute statue weighs in big hour don't miss a moment of it, we kick off right here a shutdown showdown on capitol hill republicans considering a spending fix, as congress barrels toward friday budget deadline blake burman live at wisely with the very latest blake, good morning to you. reporter: good morning to you house republican leadership presentedmens with a plan would fund government stop georgia measure through february 16 by no means though is a slam dunk this morning, as already skroef members expressing regulation invasions about kicking the revolutio reservationings. >> republicans will come around, and will aveteran a government shutdown -- >> we -- as expectation thursday friday vote, on another continuing resolution maria that would get us into february, to allow more time
for daca conversation. >> some point you have to figure out that why is the cr going to be different from second and the third. and i don't know there is a compelling case made for that. >> this cr, continuing resolution would be a clean cr meaning no strings attached to that there is no daca deal attached to it that is exactly what the white house wanted with this they feel as well though, that if for some reason if there would be a shutdown at some sort it would just give democrats more leverage on that issue down the line. the if democratic snvr durbin a centerpiece of negotiations as relates to daca feels the white house is not living up to its word. >> we have met the president criteria one point he said whatever you send me i will sign i will take the political heat on this, well we showed up thursday with bipartisan bill presented it to him much different story. >> maria i spoke with sr., official a while ago this
person put odds of a government shutdown, at one in four, 25%, while that might seem low this person also acknowledged that of all the past fire drills last feud we have been through, and last handful of months 25% number is the highest that this person has ascribed but does feel that in the end, this will be averted deadline friday night there is a lot of room to go. until then. maria: blake, did dick durbin leak about that about send something president said because upset the president didn't go for his immigration plan? >> well, they thought they that had a deal on thursday, dick durbin lindsey graham handful dozen or so people in the room thought they had a deal why upset with all this. >> they decided let me go start another fire and leak something the president said? response? >> you i mean the from the conversations in that room on thursday. >> yeah. >> that is some of the allegations, you know again
durbin feels what was said in that room, was not respectful of the office of the presidency there is the argument you know you've got the congressman from south florida saying he never talks about about what happens in a private meeting clearly dick durbin upset enough what he heard he felt he needed to bring before crams. >> upset this is plan of this accepted blake burman latest white house russia probe from the white house commander in chief strategy steve bannon refusing to answer questions testifying in closed-door meeting before house intelligence committee despite being subpoenaed reportedly told lawmakers he have was asked by wisely not to discuss details from time in administration or during the presidential transition, yesterday, congressman trey gowdy white house press secondary sar sar sarah huckabee sairndz wade in on this. >> we learned about a new privilege before day did not
exist executive privilege covers communications working at the white house communications after you separate from service at the white house that is why the subpoena was issued most tortured analysis of executive privilege i have ever heard of. >> we have been completely -- cooperative throughout this entire process we have to go we are going to continue to be cooperative but also going to maintain some of the executive privileges here at the white house, that have been practiced for decades. >> fox news learned bannon will return to speak to committee tomorrow corey lewandowski to testify today hope hicks would meet with committee as early as friday joining us former trump campaign manager avenue strategies partner cothour "let trump be trump" corey lewandows lewandowski democratically strategy robin, good to see
you thanks for joining us. >> corey let me kick off with you you are testifying die reports you hired a lawyer to representative you over this is that accurate what can we expect. >> what you expect from me today exactly what you always get from me the truth i will be happy i said i will cooperate with any investigation, that they have, whether it is a congressional investigation or anybody else who wants to sit down and talk i will tell them that there was no collusion, there was no coordination no cooperation between our campaign when i was there, and any foreign entity if there was any those people should be held accountable maria this has been going on now over a year there has been no evidence whatsoever, that anything has tan place even dianne feinstein, the ranking member in senate judiciary committee has said she has seen no evidence whatsoever to show any collusion between trump campaign and russia so look, i will come talk to anybody, but in some point, we have to bring in investigation to a close. maria: robin do you agree with that? i mean at this point given where you have not seen any
evidence of any collusion, and we know that there was in fact collusion at the top of the fbi and hillary clinton with all the bias going on there, and the protecting of hillary clinton what she was doing in terms of her he e-mail, yet there is no -- there is no focus there in the media? >> you know maria i just have to opinion, that this investigation we are not going to know exactly what o what there is to it at this point. the public certainly isn't privy to it so just let this investigation reason i its course, the president has been insisting he is innocent let this go unimpeded not a permanent staple on presidency. >> do you think there should be questions asked over this so-called insurance policy that fbi agent strzok was discussing was gifl at fbi did not want donald trump to win presidency said we need this as insurance policy, do you think that should be looked
at? >> absolutely. i think that everything should be looked at, look at the investigation into bill clinton, that started off into a real estate transaction burst monica lewandowski scandal can go anywhere, i think fair game. >> corey one of the things talking about this morning is idea that the apparently bannon said he was told by white house not to discuss anything, as you just heard congressman gowdy talking about this new this new privilege. were you told not to discuss anything from the white house? >> no i wasn't, and what i have said to the members of the committee that asked me to come i volunteered to come bay bee i will be happy to talk to them happy to tell you anything what i think steve was saying is he will be happy to answer any questions, during his tenure on campaign, this investigation is truly about did russia clue with trump pain to embank outcome of the election talk about tenure on campaign if this investigation is about
something completely different what a donald trump has done after president-elect or as president, that is a very different investigation. and steve from what i understand the reports are saying, is he is willing and was willing to talk about anything that took place while he was at campaign, but not while he was a chief strategy for the white house. >> -- reverse gears president trump expected to handed out fake news awards today he tweeted on january 7 this, the fake news awards going to most cup and biased of mainstream media presents to losers rather than monday the interest in importance of awards is far greater than anybody could have anticipated, the president wrote. robin what do you expect to happen today? >> well you know, honestly the lead purveyor of fake news is donald trump, the fact-checkers said he has given more than 2000 lies so honestly. >> what about don't spew out nonsense what are 2000 lies? >> come on let's start with
day one the biggest presidential inauguration in the history of all inaugurations, we can start there, as a just continued, every single day, we get more and more from him, so -- but i agree there you know the media, needs to be hemmed accountable, so you know, i think i will have fun with this but the term fake nice maria came because russian bots were putting out fake news. >> the media is not focusing on what american people care about you never see in "new york times" any articles about dow 25,000 and dow 26,000, you rarely see articles or news reports, away from fox and fox business, of the 4% economic growth that is expected in 2018, instead you've got mainstream yee focusing whether or not donald trump wears dentures whether or not obese how many diet cokes he drinks. >> i will give you that. >> fake news.
-- >> yeah, but -- >> fair is fair, to me, it is the pot calling kettle black he is pushing outed fake news every single day, maria, maria look we have reporters every day, who are making up stories we saw -- abc stock market drops 350 points, you know in afternoon case he made up a fake news story you know what accountability was nothing. he still has job at abc news fake news is that is what the american people are tired of. we have seen this time and again, we saw a story that said deutsche bank was under a subpoena from mueller team to turn over donald trump finances that never occurred, the mural team had to say we in every issued a subpoena to deutsche bank for those records writehere is accountability when do the people get fired for making news instead of reporting news the worst of worst that people make up news affect our lives every did people stock 401(k)s no accountability. >> we will be watching that
corey lewandowski thanks very much we will be right back, thank you, maria. ttle to the le. 1, 2, 3, push! easy! easy! easy! (horn honking) alright! alright! we've all got places to go! we've all got places to go! washington crossing the delaware turnpike? surprising. what's not surprising? how much money sean saved by switching to geico. big man with a horn. fifteen minutes could save you fifteen percent or more. when it comes to travel, i sweat the details. late checkout... ...down-alternative pillows... ...and of course, price. tripadvisor helps you book a... ...hotel without breaking a sweat. because we now instantly... ...search over 200 booking sites ...to find you the lowest price... ...on the hotel you want. don't sweat your booking. tripadvisor. the latest reviews.
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and south korea agreeing to a much together at winter olympics in south korea next month cheryl casone with details cheryl: just hearing about this tensions still high on korean peninsula but north and south korea have agreed, to create a joint olympics team will march together under one korea flag, at the pyeongchang
games february 9 two countries have agreed to form a unified women's hockey team we should add. so that back at home nine men facing hazing charges in connection with with death of florida state university apple alternativetory pledge excuse me 20-year-old andrew, a, jr., at pie kappafy died found unsupportive following his death florida state suspended frats and. >> to make sure ads won't appear with controversial videos ordered hundreds to watch thousands of hours premium content, youtube says full review should be completed by end of march new videos review before posted on-site shares alphabet, youtube parent up more than 36% from just a year ago. >> this is interesting what would life look like if google
and facebook suffered the same faith of troubled retailers like macy's sears check out this take on exactly that. romanian graphic artist imagined what companies would he physically look like called social decay, 3-d programming to create it getting attention because frankly realistic look of these digital renderings, look like buildings. >> trouble for general electric, ge stock fallen big time one of the oldest, 125-year-old company could break itself up straight ahead ready for football? surl tickets reportedly 950 bucks, what could tap if vikings win sunday later stay with us. >> ♪
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way the actual investing platform and relationship works goldman clients have committed closed 250 million in expect a toll a diverse group the country across the world now have access to vest in our platform quality real estate investment deals otherwise would have been inaccessible, excited about partnership foundation we will raise more capital with goldman clients ultimately overtime potentially expand because there was a o lot of demand, goldman, is the company organization, that prides them being progressive on being technology oriented we thought he perfect alignment what we're looking to do. >> explain how it works platform an alternative to investors other than trillion real estate funds explain cadre. >> there are three key dynamics that make cadre better opportunity than
investing in funds in reits or direct those are three primary ways, first about our team, second, it is about our tacts third tech in terms of team first company to bring the diversity group of talent from blackstone goldman sachs, facebook google apple square under one umbrella we have been able to bring more than 40 billion collective investing experience with best of tech world under one umbrella quality access as easy as would it be to go on to oom horizon, invest or there were also tactically making sure the product has lower 70s in funds to be up to 40% lower we want experience ease you to be able to go to platform explore quality investment opportunities with click of a bonn knl button. >> tell me how tax law changes things, why you feel that that
is going to be a beneficiary, in terms of working with cadre. >> sure the beauty of real estate in why we are passionate about unlocking access because again constrained to few it is a tax effective asset class to invest in you benefit depressuration roll forked a lot of losses generally efficient opportunities to create best tax you just the returns for people tax bill has pass-through regulations reforms that make it even more efficient for llcs partnerships to reduce that overall tax load if you combine tax efficiencies from new pass-through, reform look at natural kind of ability to invest in real estate being something that is quality, and you know kind of a one plus one equals three we want more to access that. >> you partnered with jared kushner on this how much day-to-day influences do kushner brothers have on this jared top level white house
advisory. we have a diverse group of investors if upper to go through, the list of investors, would you say we have almost a political rainbow cross every spectrum i think brea best companies transcended values goes beyond any political affiliation, jared kushner initial early partner investor joc kushner invests with us we have folks like ford foundation goldman sachs. >> peter teel. >> mark cuban a diverse group across the april supremacism we focus on what we believe one of the best of generation that is testament to goldman. >> tell me where growth comes from at cadre in coming you five years. >> first and foremost we make sure we are expanding nationally with real estate opportunities, i started the company, primarily based out of new york, we have been able to expand and grow, multiple
markets we have a billion in assets on platform right now going to probably double that next 12 months, here in u.s., over time we want to do is expand internationally and explore opportunities across asset classes. rea quality asset class to invest in not only asset class we think more people should be able to invest in or investors invest in may be an opportunity for infrastructure, or natural resources timber and oil private equities a lot of historically opaque challenging to access we want to change. >> opportunities for real estate skwlafl a geographicly or spector. >> we find value in multifamily, believe that people always need somewhere to live we are focused on, cash tax adjusted second yields make sure that people can invest in quality opportunities, that are existing in and around gateway markets focus on multifamily portfolios we any there is a
lot of quality opportunities in office sector as well like office, because again you can buy pretty good basis today given so many quality operating partners. >> do you avoid high taxing states. >> so we focus this is -- >> because tax law changes. >> one hundred percent something we focus on in terms of just overall returns for investors the beauty of real estate largest asset class in the world also the most imperfect for us microlevel videographying overlay macroas well. >> taking the company public. >> i think focus on this year next year like i tell team all the time do right thing focus on value to users to customers i think will exceed any one examine those expectations ipo who knows. >> some point? >> potentially, y. >> yes. >> congratulations on huge injection from goldman we will break the impact of president
trump's tax plan on wineries in california how industry cashing in big time with new reforms goldman sachs reporting earnings beating earnings and revenue expectations break down numbers stock lower this morning, by a fraction, stay with us. >> welcome back to another tennis channel court report a special presentation for fox business. 2018 edition australian open reached second round wednesday in melbourne, some of the biggest names in the support in action. u.s. open champion continued quest for a second straight major title, with a routine vieblth over leonardo. >> moved on to face the third round. >> digging deep using all experience to the challenge.
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your top stories right now 8:30 a.m. on the east coast. wall street in record territory again, the dow industrials yesterday, cracked another all-time high, milestone of 26,000 came off highs however closed lower he raising gains and some closing down 10 points on dow president trump touting the record run. >> we have enacted massive tax cuts you have seen it seen whaths happening i have to tell you that far beyond our expectations, we have made a tremendous amount of progress in a very, very short period of time. when you look at what has gone on with employment what has gone on with stock market, we have created now almost 8 trillion dollars worth of value, just in the stock market. maria: checking action this morning we are hour away from openly markets back in record territory, once again, dow industrials up 96 points this morning, a third of a per kroent higher off highs of the morning but, nonetheless, looking at very strong opening, for stocks about an hour.
in europe, this morning, stocks are lower, ft 100 dax down a quarter of a percent apiece cac quarante in paris down fractionally in asia overnight, stocks closed mixed hang seng shanghai higher. financial earns in focus bank of america reporting mixed results for the fourth quarter goldman sachs hurt by weak trading a four-billion-dollar hit from tax reform, call it crypto wash bitcoin sold off trading near 10,000 dollars over the new concerns over government regulation, the end of era for general electric could be at hand company eyes breakup struggles to shore up business stock continues to degrade down 2 1/2% right now. >> no longer has to worry about a nondisclosure signed about the abuse faced at hands of dr. larry, usa gymnastics will not pursue a fine. >> super bowl over twoex would away we have first look at
ticket prizes lowest 950 dollars, good luck for that price. >> all that coming up first this, nearly 100 days in record closes on dow since president trump election listen to what fedex ceo from smith told stuart varney about tax tax reform. >> the market is reflecting growth around the world, of course, we see we serve 220 countries nobody sees the global economy the way we do. and it is pretty well synced up, you have a better situation for business with the reduction in regulations most importantly this tax bill. >> joining us right now america first policies policy advisory o former cke restaurant ceo andy puzder thanks for joining us how would you characterize where things are we know factor trading on real fundamentals expecting 4% economic growth
what can you tell us in terms of what you see. >> i think spectacular this is the most booming economy that i can ever remember experiencing, and i was -- 30 years old in 30s during reagan years this is energy here, is incredible, the business optimism, you hear a lot about the big companies and say i have got friends franchisees small business earns with our company other companies are talking about building used to talk how can i build how can i forward to pay for health care how to how at an i forward minimum wage increases now worried about competing for sites for real estate because there is so much demand so i think we will see 4% next year, i think we are going to see wage growth. >> the conversation, kevin has chaerngs from how am i going to pay for all lawyers and compliance officers that i need, to keep up with regulation to how am i going to grow, where am i going to invest for growth. >> yeah, i think andy is bringing up a great point and one of the reasons why we're seeing this because of current taxes environment right harder
for u.s. xarpgs corporations to in united states than foreign corporations we saw that happen precipitously with deals from overseas, the tax environment wasn't beneficial are you seeing i am curious andy are the guys talking about -- pass-through entities deductions what is the main emphasis for them to invest and deploy capital into u.s. >> you invest when you believe your business is going up you can make a profit your costs are down enough you can manage distant enough profit willing to risk wealth time with a they are seeing is regulatory costs down tax costs down, optimism very high so anticipating growth, so it is you know this isn't rocket science if people can make money will invest in growth. and what we have during the obama years people they didn't believe they could make money so growth held gdp down, now wr seeing more investment even before, tax bill increase in investment took gdp to 3% now
very, very substantial investment the problem for small businesses is dodd-frank. because killed a lot of community banks, but there are lenderers out there will continue to look for money and build so long as they believe they can make money at it. >> -- what are you seeing on regulator side i know for example on labor side baby object erie regulation around joint imperfect mandates, all this sort of regulation, are you seeing released in this in is to tax reform. >> absolutely joint employer and minimum wage. >> wages going up competition but not forced up to where you are reducing the profitability of companies actually competing for employees with growth, and -- was a very, very important for small businesses particularly franchise businesses because it looked like the franchisors larger companies are going to end up controlling labor costs that is not franchising at that point you are a subsidiary of big company entrepreneurs don't want that that is gone xeem very excited seeing a lot of building. >> the investment you had,
morgan stanly 2007, the biggest capex spending happened mainly since president trump and business current administration low interest rates building capex do you see extra capex spent built with this repatriation, i just don't think a lot of capex because we have seen a lot of it. >> you know we have we have seen money come back yet you are not seeing it i think you will see it going forward. but the big where i see you know i look i would get same numbers everybody looks at bureau labor statistics look and see how much money -- conditions are us bureau whether -- gdp has gone up, you look at -- whether it is because people invested or not they have been saying during obama administration, people weren't vesting couldn't gdp down last two radiators saquart up. >> i was surprised --
repatriation rate we were talking 10%, 8% 15 1/2% do they have to bring money back at this point. >> i don't think they have to bring money back but i think they will want to bring it back people want to build and invest in united states. >> this -- they will -- >> if germany he can very he have in united states without a tax penalty bring money to invest if you make money i in german pay higher than 15 1/2 you won't bring back competitive with germany i think we will see it you have not seen it had why either. >> i was speaking to one vest pro this week said he spoke with last companies they own private equity guy said in europe, they are saying you know we were planning on investing in europe, but we are going to switch those plans going to invest in america, because of this tax plan, this is changing behavior across world. >> japan germany china expressed distress at fact we passed this tax bill good thing for us something we want in united states. >> -- if you looked at the worldwide averages 22 1/2%
wouldn't 35 complete disadvantage now freaking out trying to fibering out if you look at the uk they are at 20% they are looking to go to 17 1/2%. >> the fastest on track running with leg weights just took them off. >> are you going back to white house? >> look, political -- i am glad you asked that ran an article claiming that i was getting an offer from the white house i told them that i hadn't heard anything about it called friends all said they heard nothing about it talked to friends in white house heard nothing about it they made this up basically the reraise salacious allegations from my divorce 30 years ago i have mad no discussions about going back, if the president asked me to mow lawn i would mow lawn whatever makes this administration work with i am leap to help right now focused on doing as private citizen enjoying myself i am having my wife said i would like to see you be secretary of labor would have been greatly good for the country but aren't we
really having a lot more fun? that is she said it right. >> you must have an opinion about 18 states raised minimum wage. >> the key with minimum wage not to raise it above where competition has driven it, i think what we've seen with wal-mart going to 11 dollars an hour in a lot of -- in -- major sections of the country, that will set the minimum wage competition will set it, if you want the best employees if you are running a muffler shop restaurant competing with wal-mart for employees if you want best you have to meet their price, so if you are minimum wage goes from 7.50 to 8.50 to 9.350 at this point doesn't matter much economy growing such is a pace competition outed stripping government when government sets rates the only thing federal government can do is set the lowest possible rate, because if you don't places that are complieblg stressed bibbing birj ma'am memphis, tennessee if you drive them to 15 dollars an hour you hurt them you don't help anybody, so you can't set it to what you got what you got in seattle or san francisco you have to set it low.
competition drives kind of like a tide drives to where tide goes wal-mart has taken big step moving to 11 i think people should be excited about that president obama wanted 10-10, wal-mart went to 11. >> if you were labor second lack would have been been very first thing you would have done in office. >> first thing i would have done try to get people in there help run the department teller is it i will the person i wanted to have my number two is same person alex acosta wants number two, and i have to the the person would be approved by mayor -- not approved so you got you go into this you go into the agency, you've got people that are right then and there you've got resistance within your agency not like a private business you can start firing people bring everybody in play on you are stuck with it i would have worked on -- the overtime regulation, you know really focused on things that drive jobs. >> andy great to have you on show. >> great to be here andy puzder joining us there we will be right back.
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28,000 corporate people, putting in business, sell -- ge the way of westinghouse a terrible for legacy company. >> this itself one of our oldest conglomrates 125-year-old company down 2% suffering from yesterday's headlines of 6.2-billion-dollar charge in ge capital, the company had a new ceo in place, they have been slashing dividend selling off assets the breakup has been back on the table, the
talk that may have been orchestrating this, may be difficult because of tensions debt structure can be done, it won't be completely broken up as noted 300,000 employees floor the umbrella there, so a name under pressure for last year at least, taking a look at banks goldman sachs outed with numbers beat estimates 4.4-billion-dollar charge latest trump tax reform pushed company to first quarter loss you can see goldman sachs down 1% this morning, did well on revenue the banking revenue ipo under writing a look at bank of america slightly higher, they did beat on the net profit adjusted income beat the banks. maria: thank you so much michael on for mr. unhealthy response to clean bill of health mainstream media o reports on attack poking progressed at president trump fulfill exam report asking contagious questions. >> did president wear dentures ruling out early onset
alzheimer's disease dementia like symptoms. >> is there anything you are keeping from us privacy reason. >> i i think 239 shy of obesity. >> you are confident president appears to insurer words giving draefs daddress did you into cause of that. >> chirade "varney & company" host stuart varney with thoughts. i tweeted out middle no words, oi just incredible. >> a disgrace. >> a disgrace. >> i mean when you got a white house press corps asking the president's doctor about if dementia? obesity? how much sleep does he get? how about eating of ice cream how much golf does he play? i think they delivered a black eye to themselves. >> me too. >> i thought they looked just you ridiculous quite frankly childest petulant eager to
have a go at president trump do you really think they would ask anything like those questions to president obama's doctor who was same doctor as president trump. >> who smoked he was a big smoker. >> that is right, never asked that question, certainly not, when did you quit mr. president what they would have said i think it was a distraction from economy i've got erick trump on this program 15 minutes away going to sit right next to me i am going to ask him what do you feel like when your dad's mental health is questioned? i will ask. >> incredible i will be watching that for sure, all in the face of the doctor repeatedly saying the president is in excellent health they wanted more they couldn't prodding incredible. >> ridiculous! >> see you in 10 minutes stu we will be right back. a real bad of your brother. hey. oh. that's my robe. is it? you could save seven hundred eighty two dollars when liberty stands with you. liberty mutual insurance. running a small business is demanding.
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dead from -- knowledgeable everyone had privilege knowing him better for it entire community mourns thoughts and prayers to family, when helinski did not show up for practice officers went to his apartment to check on him his pod found gunshot wound to headed accompanying suicide note younger brother said we as a family are in complete shock and disarray tyler was kid put a smile on everybody's face when they were down especially his family, we will mourn the loss of tyler for sometime to celebrate the way -- lived his life every single day, tomorrow marks three weeks since he started the holiday bowl for washington state, was expected to be
their starting quarterback, next season. >> second thing, on seven counts sexual assault yesterday former u.s. gymnastics doctor among many victims in 2016 signed nondisclosure agreement received as part of 1.2-million-dollar settlement yesterday u.d sa give gymnastics said would not fine her if she speaks out model cristy teigen tweeted support saying entire principal should be fought o for them to stay quiet over 140 acould you seers would i be honored to pay this fine for you, actress also said she would help pay a fine, you have to pay big time if you attend super bowl lii the face value of tickets begins 9 50 dollars to 5,000.
face value prices, cheapest tickets on stubhub right now 4500 dollars that is for 950 dollar ticket, 3 to 4 times somebody broker told yahoo! sports, if vikings win sunday, folks in minnesota selling fishing boats next. >> a horrible story about suicide. >> fox news headlines 24-7 sir i guess xm 115. we'll be right back. you know what they say about the early bird...
>> kevin kelly, great show. thank you so much. >> great to be here. it is cold. >> we had a nice, warm start to the morning. >> have aiate day, everybody. that ends it for us. "varney & company" takes it now. stuart,. stuart: yes, indeed. we are going to take another run at 26,000 on the dow. good morning, everyone. house stocks will open this morning. the dow will roughly go up 25, 30 points. and that will, again, bring us pretty close to 26,000. tuesday, we hit that mark. then retreated. was that the much-predicted dip? evidently, investors are now buying. so if it was a dip, it was truly short-lived. stocks are up at the open but how they closed, that is another story. no financial report is complete these days without bitcoin. it briefly dropped below